UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
AMENDMENT NO.1
PEOPLE'S BANCSHARES, INC.
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(Name of Issuer)
Common Stock, $0.10 Par Value Per Share
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(Title of Class of Securities)
709795108
---------------------------------------------
(CUSIP Number)
Jeffrey E. Schwarz
Metropolitan Capital Advisors, Inc.
660 Madison Avenue
New York, NY 10021
(212) 486-8100
-with copies to-
Joseph F. Mazzella, Esq.
Lane Altman & Owens LLP
101 Federal Street
Boston, Massachusetts 02110
(617) 345-9800
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(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
June 23, 1997
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(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(b)(3) or (4), check the following box [ ].
Check the following box if a fee is being paid with the statement [ ]. (A fee is
not required only if the reporting person: (1) has a previous statement on file
reporting beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See Rule 13d-7.) [ ].
NOTE: Six copies of this statement, including all exhibits, should be filed with
the Commission. See Rule 13-d(a) for other parties to whom copies are to be
sent.
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
SCHEDULE 13D
CUSIP No. 709795108 Page 2 of 12 Pages
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1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Metropolitan Capital Advisors, Inc.
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2 Check the Appropriate Box if a Member of a Group* (a) [ ]
(b) [X]
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3 SEC Use Only
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4 Source of Funds* 00
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5 Check Box if Disclosure of Legal Proceeding is Required Pursuant to Items
2(d) or 2(e) [ ]
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6 Citizenship or Place of Organization New York
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Number of 7 Sole Voting Power 0
Shares -----------------------------------------------------------
Beneficially 8 Shared Voting Power 119,985
Owned by -----------------------------------------------------------
Each 9 Sole Dispositive Power 0
Reporting -----------------------------------------------------------
Person With 10 Shared Dispositive Power 119,985
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11 Aggregate Amount Beneficially Owned by Each Reporting Person 119,985
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12 Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares* [ ]
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13 Percent of Class Represented by Amount in Row (11) 3.34 %
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14 Type of Reporting Person* CO
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
SCHEDULE 13D
CUSIP No. 709795108 Page 3 of 12 Pages
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1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person KJ Advisors, Inc.
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2 Check the Appropriate Box if a Member of a Group* (a) [ ]
(b) [X]
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3 SEC Use Only
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4 Source of Funds* 00
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5 Check Box if Disclosure of Legal Proceeding is Required Pursuant to
Items 2(d) or 2(e) [ ]
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6 Citizenship or Place of Organization New York
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Number of 7 Sole Voting Power 0
Shares -----------------------------------------------------------
Beneficially 8 Shared Voting Power 24,892
Owned by -----------------------------------------------------------
Each 9 Sole Dispositive Power 0
Reporting -----------------------------------------------------------
Person With 10 Shared Dispositive Power 24,892
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11 Aggregate Amount Beneficially Owned by Each Reporting Person 24,892
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12 Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares* [ ]
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13 Percent of Class Represented by Amount in Row (11) 0.69 %
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14 Type of Reporting Person* CO
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
SCHEDULE 13D
CUSIP No. 709795108 Page 4 of 12 Pages
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1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Metropolitan Capital III, Inc.
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2 Check the Appropriate Box if a Member of a Group* (a) [ ]
(b) [X]
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3 SEC Use Only
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4 Source of Funds* 00
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5 Check Box if Disclosure of Legal Proceeding is Required Pursuant to
Items 2(d) or 2(e) [ ]
- --------------------------------------------------------------------------------
6 Citizenship or Place of Organization New York
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Number of 7 Sole Voting Power 0
Shares -----------------------------------------------------------
Beneficially 8 Shared Voting Power 44,692
Owned by -----------------------------------------------------------
Each 9 Sole Dispositive Power 0
Reporting -----------------------------------------------------------
Person With 10 Shared Dispositive Power 44,692
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11 Aggregate Amount Beneficially Owned by Each Reporting Person 44,692
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12 Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares* [ ]
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13 Percent of Class Represented by Amount in Row (11) 1.24 %
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14 Type of Reporting Person* CO
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
SCHEDULE 13D
CUSIP No. 709795108 Page 5 of 12 Pages
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1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person Jeffrey E. Schwarz
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2 Check the Appropriate Box if a Member of a Group* (a) [ ]
(b) [X]
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3 SEC Use Only
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4 Source of Funds* None
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5 Check Box if Disclosure of Legal Proceeding is Required Pursuant to
Items 2(d) or 2(e) [ ]
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6 Citizenship or Place of Organization U.S.A.
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Number of 7 Sole Voting Power 0
Shares -----------------------------------------------------------
Beneficially 8 Shared Voting Power 189,569
Owned by -----------------------------------------------------------
Each 9 Sole Dispositive Power 0
Reporting -----------------------------------------------------------
Person With 10 Shared Dispositive Power 189,569
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11 Aggregate Amount Beneficially Owned by Each Reporting Person 189,569
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12 Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares* [ ]
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13 Percent of Class Represented by Amount in Row (11) 5.28 %
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14 Type of Reporting Person* IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
SCHEDULE 13D
CUSIP No. 709795108 Page 6 of 12 Pages
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1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person Karen Finerman
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2 Check the Appropriate Box if a Member of a Group* (a) [ ]
(b) [X]
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3 SEC Use Only
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4 Source of Funds* None
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5 Check Box if Disclosure of Legal Proceeding is Required Pursuant to
Items 2(d) or 2(e) [ ]
- --------------------------------------------------------------------------------
6 Citizenship or Place of Organization U.S.A.
- --------------------------------------------------------------------------------
Number of 7 Sole Voting Power 0
Shares -----------------------------------------------------------
Beneficially 8 Shared Voting Power 189,569
Owned by -----------------------------------------------------------
Each 9 Sole Dispositive Power 0
Reporting -----------------------------------------------------------
Person With 10 Shared Dispositive Power 189,569
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person 189,569
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares* [ ]
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11) 5.28%
- --------------------------------------------------------------------------------
14 Type of Reporting Person* IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
CUSIP NO. 709795108 Page 7 of 12 Pages
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This Amendment No. 1 relates to the Schedule 13D dated April 23, 1997. The text
of Item 5(c) of said Schedule 13D is hereby amended by the following:
Item 5. Interest in Securities of the Issuer
(c) Transactions in the class of Securities reported on herein effected
within the last 60 days by Metropolitan Capital for and on behalf of Bedford
Falls Investors, L.P. are as follows. All such transactions are short sales
against the box.
DATE NO. OF SHARES PRICE PER SHARE TOTAL
---- ------------- --------------- -----
06/18/97 (5,000) 14.87 (74,357.52)
06/19/97 (2,800) 15.04 (42,100.35)
06/20/97 (3,600) 15.00 (53,983.20)
06/23/97 (10,000) 15.12 (151,229.95)
Transactions in the class of Securities reported on herein effected
within the last 60 days by KJ Advisors, Inc., for and on behalf of the Managed
Accounts are as follows. All such transactions are short sales against the box.
Date No. of Shares Price Per Share Total
---- ------------- --------------- -----
06/19/97 (2,500) 15.04 (37,587.99)
06/19/97 (2,200) 15.03 (33,075.63)
06/20/97 (800) 14.98 (11,984.60)
06/20/97 (600) 14.97 (8,984.70)
06/23/97 (1,000) 15.23 (15,234.49)
06/23/97 (800) 15.23 (12,184.59)
Transactions in the class of Securities reported on herein effected
within the last 60 days by Metropolitan Capital Advisors International Limited
are as follows. All such transactions are short sales against the box.
DATE NO. OF SHARES PRICE PER SHARE TOTAL
---- ------------- --------------- -----
06/19/97 (5,000) 15.00 (74,982.50)
06/23/97 (3,200) 15.24 (48,783.37)
CUSIP NO. 709795108 Page 8 of 12
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After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.
This statement may be executed in any number of counterparts, each of which
shall be deemed an original and all of which shall constitute one (1)
instrument.
Metropolitan Capital Advisors, Inc.
By: /s/ Jeffrey E. Schwarz
-------------------------------------------
Jeffrey E. Schwarz, Chief Executive Officer
Dated as of: June 26, 1997
CUSIP NO. 709795108 Page 9 of 12
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After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.
This statement may be executed in any number of counterparts, each of which
shall be deemed an original and all of which shall constitute one (1)
instrument.
KJ Advisors, Inc.
By: /s/ Jeffrey E. Schwarz
-------------------------------------------
Jeffrey E. Schwarz, Chief Executive Officer
Dated as of: June 26, 1997
CUSIP NO. 709795108 Page 10 of 12
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After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.
This statement may be executed in any number of counterparts, each of which
shall be deemed an original and all of which shall constitute one (1)
instrument.
Metropolitan Capital III, Inc.
By: /s/ Jeffrey E. Schwarz
-------------------------------------------
Jeffrey E. Schwarz, Chief Executive Officer
Dated as of: June 26, 1997
CUSIP NO. 709795108 Page 11 of 12
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After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.
This statement may be executed in any number of counterparts, each of which
shall be deemed an original and all of which shall constitute one (1)
instrument.
By: /s/ Jeffrey E. Schwarz
--------------------------------
Jeffrey E. Schwarz
Dated as of: June 26, 1997
CUSIP NO. 709795108 Page 12 of 12
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After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.
This statement may be executed in any number of counterparts, each of which
shall be deemed an original and all of which shall constitute one (1)
instrument.
By: /s/ Karen Finerman
--------------------------------
Karen Finerman
Dated as of: June 26, 1997
EXHIBIT A
AGREEMENT OF JOINT FILING
PEOPLE'S BANCSHARES, INC.
COMMON STOCK, $0.10 PAR VALUE PER SHARE
In accordance with Rule 13D-1(f) under the Securities Exchange Act of
1934, as amended, the undersigned hereby confirm the agreement by and among them
to the join filing on behalf of each of them of a Statement on Schedule 13D and
any and all amendments thereto, with respect to the above referenced securities
and that this Agreement be included as an Exhibit to such filing.
This Agreement may be executed in any number of counterparts each of
which shall be deemed to be an original and all of which together shall be
deemed to constitute one and the same Agreement.
WITNESS WHEREOF, the undersigned hereby execute this Agreement as of
this 26th day of June, 1997.
METROPOLITAN CAPITAL ADVISORS, INC. METROPOLITAN CAPITAL III, INC.
By: /s/ Jeffrey E. Schwarz By: /s/ Jeffrey E. Schwarz
----------------------------- ------------------------------
Jeffrey E. Schwarz, Jeffrey E. Schwarz,
Chief Executive Officer Chief Executive Officer
KJ ADVISORS, INC.
By: /s/ Jeffrey E. Schwarz
-----------------------------
Jeffrey E. Schwarz,
Chief Executive Officer
/s/ Jeffrey E. Schwarz /s/ Karen Finerman
----------------------------- ------------------------------
Jeffrey E. Schwarz, Individually Karen Finerman, Individually
